Reportedly some senior employees at Tata Consultancy Services were left disappointed when the company gifted them wrist watches on completion of 50 years. A number of vertical heads, who were expecting cash bonus or Tata products such as jewelry, homes, and cars, got Titan wrist watches instead, reported The Hindu. Tata Consultancy Services (TCS) announced its long-awaited 50th-anniversary gift for its employees
Mumbai sources reported that Reliance Jio Infocomm’s fiber network unit is rising about Rs 27,000 crore in syndicated loans from a group of banks, three executives aware of the financing plans told ET, as the newly created infrastructure business expands to meet expected demand for its assets from sectors such as power besides telecom and internet services providers.
According to sources Uber Technologies Inc. and its bankers will hit the road this month with one big name on their lips as they try to entice investors with favorable comparisons to businesses that it seeks to imitate or surpass. That name is Amazon.com Inc. Amazon was a money-losing internet bookseller attacking the brick-and-mortar fortress of Barnes & Noble Inc. at the dawn of e-commerce
According to sources Jet Airways India Ltd’s fleet has shrunk by almost 90 per cent as the cash-strapped airline struggles to find funds to operate, forcing the nation’s oldest surviving private airline to drastically curtail its scheduled flights amid a hunt for a new investor. Meanwhile the carrier, once India’s
Accordingly Indian Oil had stopped the fuel supply around noon today (April 5) but was restored at around 5 pm after the airline assured the oil firm of payment of dues. A major crisis was averted at the cash-starved Jet Airways after national oil marketing major Indian Oil Corporation (IOC) resumed fuel supply to the airline, which was halted earlier in the day due to the non-payments.
According to sources Food delivery and restaurant discovery company Zomato has recorded $206 million (about Rs 1,339 crore) in revenue for FY19, a three-fold jump in top line on-year, driven primarily by its core food delivery business. Meanwhile in its annual report for 2018-19, the Gurgaon based
Mumbai sources reported that Veteran industry leader Ratan Tata said it takes long to really understand a business leader, even though there can be an immediate admiration. Accordingly Tata, who emitted office as the executive chairman of the over USD 100 billion conglomerate in 2012, said he does not intend to join politics.
Accordingly the Nikkei India Manufacturing Purchasing Managers Index is the latest piece of high frequency data on the economy available to the Reserve Bank of India's Monetary Policy Committee before they take a decision on whether to cut the policy rate further, at their meeting from April 2-4.
According to sources from Titan Company Ltd its Chief Financial Officer Subbu Subramaniam told Bloomberg Quint in an interview confident of expanding its market share in the jewelry business even as the industry is struggling with liquidity squeeze and higher gold prices.
Accordingly bankers to Essar Steel India Limited will not be able to receive ArcelorMittal’s payment for the company by March 31 despite a meeting of Committee of Creditors (CoC) currently underway, the counsel for the lenders told the National Company Law Appellate Tribunal (NCLAT) on Wednesday. A meeting of the Essar Steel CoC is currently ongoing to consider redistribution
According to sources shares of DLF rallied by 7 per cent to Rs 202 in intra-day trade on the BSE on Tuesday after the real estate developer on Monday announced the launch of a Qualified Institutional Placement (QIP) program to raise Rs 3,175 crore. The stock was trading close to its 52-week high of Rs 226 touched on April 27, 2018 in intra-day trade.
As India gears up for the 12th season of the grand cricket bonanza, GrabOn is back with the 5th edition of the fan-favorite event - Cricket Fantasy League #GrabTheCup. For the uninitiated, the basic aim of Fantasy Cricket League is to choose players from various participating
As per latest report it was stated that Reliance Communications Enterprises has pledged 4.52 percent of its holding in Reliance Communications (RCom) amounting to 12.50 crore shares with IndusInd Bank Ltd, according to a regulatory filing.
According to sources in another blow to the beleaguered Jet Airways, 260 pilots of the airline appeared for a walk-in interview session organized by Spice Jet. Meanwhile sources told that 260 pilots, including 150 captains, came for the interviews organized at Mumbai for Boeing 737 rated captains, non-type rated captains and first officer with frozen airline transport pilot license (ATPL).
Accordingly oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC. Meanwhile US sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders say the market looks capped by rising American output.
After beating drums and shouting aloud may have a lot of dramatic value to attract potential bidders, but capital markets regulator Sebi feels these archaic methods for recovery of funds through the sale of attached assets are outdated and there are several newer alternatives that can yield better results. Meanwhile the 'outdated' provisions have caught the eyes of the Securities and Exchange Board of India
According to sources it was stated that the annual rate of inflation, based on Wholesale Price Index (WPI), rose to 2.93% (provisional) for the month of February compared with 2.76% in the previous month, government data showed. At 2.93%, the wholesale price inflation in February was higher than economists' estimates. Economists in a poll conducted by news agency Reuters had expected the WPI inflation at 2.88%.
Accordingly with oil prices on the boil just as general elections are announced, Oil Minister Dharmendra Pradhan has asked world's largest oil exporter Saudi Arabia to play an active role in keeping rates at a reasonable level. Reportedly Petrol and diesel prices have risen by over Rs 2 per liter in last one month as international rates have risen on hopes of the United States and China ending a trade war
Accordingly the Reserve Bank of India may disallow credit rating agencies from the dual role of being adviser cum rating agencies for companies. Meanwhile the move aims to prevent such entities from making biased assessments about the financial condition of their clients and restrict conflict of interest that may step in.
As per report Bharti Airtel said on Thursday its promoters would take part in the $4.57 billion capital infusion plan by subscribing to its rights issue. Meanwhile the Promoter Singapore Telecommunications Ltd (Singtel) will subscribe to 17 crore shares in the Airtel's rights issue for a total consideration of Rs. 3,750 crore ($535.89 million), the Singapore based company said in a separate statement.
According to sources the company's Chairman and Managing Director Suresh Narayanan told
Nestle India does not intend to raise royalty payout beyond 4.5% and the remark comes even as shareholders were waiting to see whether Nestle India will seek minority shareholders' approval to pay over 4.5% in royalties. Royalty is a sum paid to a patent for use of a patent. Narayanan said "There has been no discussion on this".
According to sources a prime supporter of demonetization and member of the Reserve Bank of India, S Gurumurthy once again called the biggest monetary decision taken by the Modi government a correct. Gurumurthy said that demonetization was very important. He, however, agreed that the move had some ill-effects too.
According to sources the benchmark BSE Sensex surrendered early gains Wednesday to end in the negative terrain after a 600 point swing amid escalating cross border tension between India and Pakistan. Investor sentiment took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir's Poonch and Nowshera sectors, experts said.
As per report Indian Railways has certain luggage carrying rules under which each passenger is allowed a free allowance up to which he/she can carry luggage in the compartment. The free allowance varies for different classes of travel, said Indian Railways on its website, indianrail.gov.in. However, passengers can book and carry excess luggage beyond the free allowance limits in the compartment up to a maximum limit according to the class of travel.
As per report Finance Minister Arun Jaitley said in a big relief to home buyers, the GST Council on Sunday slashed tax rates on under construction housing properties to 5% without input tax credit, from the existing 12%. Meanwhile the Council also cut GST rates on affordable housing to 1% from the current 8% and expanded the scope of affordable housing to those costing up to Rs. 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities.
As per latest report in Delhi, gold of 99.9% and 99.5% purities advanced by Rs. 360 each to Rs. 34,830 and Rs. 34,680 per 10 grams, respectively and furthermore the gold prices on Wednesday had dropped Rs.210.
According to sources IRCTC or Indian Railway Catering and Tourism Corporation, which handles the catering, tourism and online ticketing operations of the Indian Railways, also offers the option of ticket cancellation via its official website- irctc.co.in or mobile app. Meanwhile after the confirmation of cancellation, the refund is credited back to the account used for booking of the ticket.
Sources told that the Anil Agarwal led Vedanta may make another attempt at buying Essar Steel. But this time, it won't be alone but may partner Sajjan Jindal JSW Steel. Meanwhile t he two companies may come together and put in a joint bid of about Rs 47,000 crore, said an industry executive. The executive said "But a final call is yet to be taken".
Animal Planet, India’s No. 1 Wildlife channel, has joined hands with L&T Metro Rail (Hyderabad) Limited (L&TMRHL) to sensitize citizens of Hyderabad about the importance of Tiger Conservation. Starting February 13, 2019 for a month, Animal Planet & L&T Metro Rail Hyderabad will be running a campaign highlighting the alarming situation of global tiger population